3 Real Estate Investing Rules to live (before you) buy!

July 6, 2008

real estate investing advicereal estate investing adviceEach day, I am reading about and speaking with industry experts, real estate agents, and Real Estate investors who are starting to get excited about buying real estate across the country and here in Metro Phoenix, Scottsdale, Paradise Valley, Fountain Hills, Peoria and other southeast valley cities like Mesa, Gilbert and Chandler.

However, I urge patience and prudence in today’s real estate and home buying market.real estate investing advice

There are several challenges we still face:

  • Large inventory/supply - almost 11 months average across the country
  • rising interest rates - FED indicated rate cuts are over
  • High energy and food costs - oil at $142/barrel - $4.25/ gallon at the pump
  • tighter access to credit - the inability/difficulty to refinance debt

if you are a longer-term investors, home buyer or 1st-time new home buyers , follow the long-standing advice of investing 101 for real estate buying here in Phoenix.

  1. Capital preservation - make sure you can afford the home; make sure you have 20% for a down payment on your mortgage
  2. Debt reduction - pay off credit cards and other debt before you add more
  3. Financial intelligence - research, talk to real estate agents, and make sure you exercise prudence. There is no last opportunity to buy a home. Make sure it is not putting you at more financial risk than you can afford.

Everyone who reads my blog knows I am a bit advocate of home buying for a residence and real estate investing.

Real Estate provides tax benefits, a hedge against inflation, long-term appreciation and a place to live and raise a family.

However, the waters of today’s real estate market are turbulent. I encourage wading into the water not diving right in.

Before you invest or buy real estate I urge you to get the advice of experts.

Here are a few names that are highly respected real estate professionals.

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Copyright © 2008 By James Wexler, All Rights Reserved. *3 Real Estate Investing Rules to live (before you) buy!*

Contact James Wexler (480) 221-8080 for all your Phoenix Scottsdale area Real Estate needs.

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Written by James Wexler · Filed Under Articles, Buyers, Investing 

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